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3 November, 02:18

Builder Monty must secure a loan with mortgages on five different lots. What type of loan will he need?

A. Bridge loan

B. Blanket loan

C. Construction loan

D. Package loan

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Answers (1)
  1. 3 November, 04:28
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    B) Blanket loan

    Explanation:

    A blanket mortgage is used to either buy more than one real estate property or to obtain an equity loan using more than one real estate property as collateral.

    In this case, Builder Monty appears to be a construction company that wants to start building houses (or other type of residences) and needs money to do it. Usually when builders need money they will use some real estate property that they already possess and use it as collateral for an equity loan.
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Home » Business » Builder Monty must secure a loan with mortgages on five different lots. What type of loan will he need? A. Bridge loan B. Blanket loan C. Construction loan D. Package loan
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